Anchor Land bares 7 new projects this year

MANILA, Philippines - Placing its bet in on a resurgent property market, listed high-end Binondo-based developer Anchor Land Holdings Inc. is gearing up to launch seven new projects – from commercial developments to luxury residential suites – this year.

These likewise include the expansion of Anchor Land’s best-selling mid-rise condominium project at the ASEANA Business Park in Parañaque City.

“This is our vote of confidence on the Philippine economy in general and the property sector in particular. It is also our way of living up to our motto of 100 percent commitment to deliver all projects on time, without sacrificing the quality and beauty of our developments,” said Anchor Land chairman Stephen Lee Keng.

Lee said construction works in four projects are in full swing, namely The SoleMare Parksuites Phase I near Macapagal Blvd. at the ASEANA Business Park; Two Shopping Center along Cuneta Ave. in Pasay City; the Anchor Skysuites along Ongpin St. in Binondo; and the Wharton Parksuites along Masangkay St., also in Binondo.

SoleMare Parksuites and Two Shopping Center are being developed by Posh Properties Development Corp., a subsidiary of Anchor Land, while Anchor Skysuites is being undertaken by Gotamco Realty Investment Corp. Wharton Parksuites is a project of another subsidiary, Manila Towers Development Corp. (MTDC).

Anchor Land has recently broken ground with its Admiral Baysuites project under subsidiary Admiral Realty Co., Inc. as well as with SoleMare Parksuites Phase II while a seventh project, Clairemont Hills Parksuites under the parent company will be launched by the second quarter of the year.

Lee said bulk of Anchor Land’s current revenues comes from the SoleMare Parksuites Phase I, now almost entirely sold out. Strong buying interest has prompted the company to launch a second phase which will also be a twin 18-story development.

Another bestseller is the 39-story Wharton Parksuites, which caters to those who send their children to the most prominent Chinese schools in Binondo. The project is likewise nearly sold out.

Last year, Anchor Land started development of its signature project in Chinatown, the Anchor Skysuites, which at 56-storys high is set to become the tallest edifice in Binondo and in all Chinatowns around the world. While units are scheduled for turnover by 2014 yet, most are already taken.

Aside from this, Anchor Land is redeveloping the historic Admiral Hotel in Manila into a European-inspired boutique hotel with white gloved service that will redefine luxury in the Roxas Blvd. area. Behind the hotel will rise a 53-story luxury residential condominium where some units are more than 1,000 square meters in size, with their own private swimming pool.